Lumen Technologies (NYSE:LUMN) Trading Up 9.2% - What's Next?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) was up 9.2% during trading on Wednesday . The company traded as high as $5.89 and last traded at $5.80. Approximately 2,117,478 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 7,538,880 shares. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LUMN. Citigroup raised their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. TD Cowen cut their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.66.

Lumen Technologies Stock Up 2.1 %

The firm's 50-day simple moving average is $6.58 and its 200-day simple moving average is $5.59. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of -2.60 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm's quarterly revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. Sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LUMN. Avior Wealth Management LLC boosted its holdings in Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after purchasing an additional 2,657 shares in the last quarter. SG Americas Securities LLC boosted its stake in Lumen Technologies by 59.1% in the 4th quarter. SG Americas Securities LLC now owns 83,827 shares of the technology company's stock valued at $445,000 after buying an additional 31,145 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Lumen Technologies by 22.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 89,334 shares of the technology company's stock valued at $474,000 after acquiring an additional 16,527 shares during the period. Ballentine Partners LLC grew its position in Lumen Technologies by 14.8% in the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company's stock valued at $160,000 after acquiring an additional 3,868 shares during the period. Finally, Polianta Ltd bought a new position in shares of Lumen Technologies during the fourth quarter valued at $692,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.